Techno-politics

The top global standard setter for banking regulation -- The Basel Committee for Banking Supervision, a group of global central bankers and regulators -- proposed a strict new rule that would require banks to set aside a dollar in capital for every dollar of bitcoin or other crypto assets they own. Stablecoins (cryptocurrencies pegged to traditional assets) would be subject to lower capital requirements. Continue Reading →

President Biden has issued Executive Order on Protecting Americans’ Sensitive Data from Foreign Adversaries, rescinding the previous administration's Executive Orders, which banned TikTok, WeChat, and other Chinese apps including Alipay, CamScanner, QQ Wallet, SHAREit, Tencent QQ, VMate, WeChat Pay, and WPS Office. Continue Reading →

The crypto markets got hammered over fears that the FBI had recovered the ransom Colonial Pipeline paid in bitcoin (true), and, therefore, all crypto can be easily hacked (false). The FUD is still rampant, and the depth and breath of misinformation and misunderstanding about the hackability of cryptocurrency is profound. Continue Reading →

Mike Novogratz has a good reason to believe that crypto is valuable. In March 2021, he revealed that cryptocurrencies made up nearly 85% ($4.8 billion) of his $5.65 billion net worth. But is crypto useful? Continue Reading →

I have often wondered which would be worse: a world where social media platforms are not held responsible for the content people post, or a world where they are. This "thought experiment" just became less hypothetical, as Twitter is testing three levels of warning labels for tweets its algorithm scores as potentially containing misinformation: "Get the latest," "Stay Informed," and "Misleading." Continue Reading →

The moment comes when you realize there's real money in your crypto wallet and you start wondering about hackers and ransomware and all kinds of bad stuff. If you've set up a digital wallet, bought some crypto, and collected a few NFTs and you're starting to trade across a range of marketplaces and exchanges, you are starting to experience the exceptional financial freedom the world of DeFi has to offer. Of course, there's a catch… Now, you're also in charge of guarding the treasury. Continue Reading →

For crypto speculators, newbies, and "get rich quick" thrillseekers, last week was tough. The Chinese government re-signaled its displeasure with bitcoin and all things crypto, the IRS announced it is going to do what it can to tax every possible crypto transaction, and Elon tweeted, scaring the hell out of people who pay attention to him. Panic ensued. When it was over, Wednesday's crypto crash vaporized about $1 trillion of market value. The currency may be virtual, but for those who sold at a loss, the losses were real. And while it came back a bit after the crash, this rollercoaster ride is getting even more extreme. Which is why it is no surprise that so many well-respected businesspeople and financial experts chose this past week to declare that crypto is "valueless," or "nutso," or "dead." But think about this... Continue Reading →

The U.S. Treasury is wasting no time trying to get control of crypto transactions and the world of decentralized finance (DeFi). Its new report, The American Families Plan Tax Compliance Agenda, shows just how serious the IRS is about the threat to its bottom line. Continue Reading →

An independent Oversight Board "has upheld Facebook’s decision on January 7, 2021, to restrict then-President Donald Trump’s access to posting content on his Facebook page and Instagram account." Continue Reading →

Yesterday's post about Florida's pending "Big Brother" legislation inspired a larger number of responses than usual. Lawyers are already lined up on both sides, so this law is destined for a protracted legal battle. But here's a fun fact: 100 percent of the negative responses were 100 percent tu quoque (aka whataboutism). Continue Reading →